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Preface Accounting as an Information System Decision Point: Gerber Products Company Accounting Defined Accounting Information and Decision Making Government and Users with a Direct Financial Interest 7 Decision Makers: The Users of Accounting Information Users with an Indirect Financial Interest 7 Not-for-Profit Organizations Management 7 GAAP and the Organizations That Influence The Concept Business Transactions as the Object Money Measure 13 Generally Accepted Accounting Principles 9 Financial and Management Accounting Independent CPA's Report 9 Accounting Measurement Current Practice 10 What Is Measured? 12 of Measurement 12 of Separate Entity 13 Forms of Business Organization Partnerships 14 Owner's Equity 16 Accounting Equation Liabilities Financial Position and the Sole Proprietorships 13 Corporations 14 Some Sample Transactions Assets 15 Contents The Statemernt of Cash The Statement of Owners Public Accounting Relationships Amon: the Four Statements The Balance Sheet 22 Communication Through Financial Statements Professional Ethics and the Accounting Profession Government and Other Not-for-Profit Accounting 28 Management Accounting 25 28 The bncOme Statement Accounting Education Equity 22 Flows 22 Chapter Review Chapter Assignments 40 Cone & Financial Decision Case 44 Foote, Interpretation Case from Business Communication Skills Exercises Henderson Lawn Care Company 44 Merrill Lynch & Co., Inc. Belding 36 2. Measuring and Recording Business Transactions Decision Point: UAL Corporation and The Boeing Comnpany Measurement Issues The Valuation Issue 48 The Recognition Issue The Classification Issue Accounts Account Titles 53 Transaction Analysis The T Account Illustrated 54 The Double-Entry System: The Basic Method of Accounting Summary of Transactions 61 Types of Commonly Used Accounts 50 Analysis of Transactions 55 The T Account 54 Recording Transactions The General Journal 63 llustrated 56 The Trial Balance The General Ledger 64 Some Notes on Presentation Chapter Review Chapter Assignments Obi Repairs First Chicago The Foxboro Penn Office Supplies Corporation 75 Financial Decision Case 87 Communication Skills Exercises 75 Interpretation Case from Business 80 Company 75 Corporation 80 Company 87 The following computer-assisted practice sets may be used after Chapter 2: Matthew Sports Cooks Solar Energy Systems, Sec- Sounds Abound, Second Edition Parks Computer Company, Second Edition Company, Second Edition ond Edition 3. Business Income and Adjusting Entries Decision Point: Never Flake Company The Matching Issue 93 The Accounting Period Issue 91 The Measurement of Business Income Net Income 90 The Continuity Issue 92 93 Acerual Accounting Recognizing Revenues When Earned and Expenses When 94 Adjusting the Accounts Incurred 93 The Adjustment Process Apportioning Recognizing Unrecorded Revenues Recognizing Unrecorded Expenses Recorded Revenues Between Two or More Accounting Periods Apportioning Recorded Expenses Between Two or More Using the Adjusted Trial Balance to Prepare Financial Accounting Periods (Deferral Expenses) 95 Decision Point: Joan Miller Advertising Agency (Deferral Revenues) 99 (Accrued Revenues) 100 (Accrued Expenses) 100 Statements Correcting Errors A Note About Journal Entries Chapter Review Chapter Assignments 112 Takashimaya Company, Interpretation Case from Financial Decision Central Appliance Service Co., Inc. Alvarez Systems Company 125 City of Chicago 116 Communication Skills Exercises 112 The Lyric Opera of Chicago 113 Limited 112 Business 116 Case 4. Completing the Accounting Cycle Decision Point: Maintenance Management Company Overview of the Accounting System Recording the Recording the Closing Entries 133 Preparing the Financial Statements 131 Adjusting Entries 132 The Work Sheet: A Tool of Accountants Steps in Preparing the Work Sheet the Work Sheet Using Required Closing Entries Closing the Debit Bal- Closing the Withdrawals Account to the The Accounts After Closing 138 Closing the Income Summary Account to the Closing the Credit Balances from Income Statement Accounts to ances from Income Statemnent Accounts to the Income Summary the Income Summary Account 135 Capital Account 136 Account 135 Capital Account 137 The Post-Closing Trial Balance Reversing Entries: The Optional First Step in the Next Accounting Period Chapter Review Chapter Assignments Ocean Oil Services H&R Block, Inc. 150 Company 147 Interpreta- 147 Adele's Secretarial Service 159 Way Heaters Communication Skills Exercises tion Case from Business 150 Financial Decision Case 159 Company 147 COMPREHENSIVE PROBLEM: Joan Miller Advertising Agency Accounting for Merchandising Operations Decision Point: Target Stores The Income Statement for a Merchandising Concern Revenues from Sales Trade Discounts Sales LDiscounts The Cost of Goods Sold Inventory Losses Net Purchases 171 the Net Method 174 Gross Sales Allowances Operating Expenses Controlling Purchases Discounts Using Merchandise Inventory 175 Handling the Merchandise Inventory Account at the End of the Accounting Period Work Sheet for a Merchandising Concern The Closing Entry The Adjusting Entry Method 180 Method 183 Income Statement Illustrated Chapter Review Chapter Assignments Warehouse 196 Interpretation Case Village TV and TV Diamond Apparel Company 206 Wal-Mart versus Kmart 199 The Book Nook 196 Communication Skills Exercises 196 199 cial Decision Case 206 from Business 6. Accounting Systems and Special- Purpose Journals ComControl Principle 209 Flexibility Principle 210 Mainframe Microcomputer Accounting The Elements of a Computer System 210 Accounting Systems 212 Systems 212 Purchases Journal 218 The Flexibility of Special-Purpose Journals 227 Cash Payments Journal 224 Manual Data Processing: Journals and Procedures Sales Journal 215 Journal 220 Journal 226 Decision Point: Fine Arts Gallery and Framing Principles of Accounting Systems Design Cost-Benefit Principle 209 Computerized Data Processing patibility Principle 210 Cash Receipts General Chapter Review Financial Lessing Interiors 233 RW Finer Foods Company 246 B. Dalton and Waldenbooks 237 Kroch's & Brentano's 234 Interpretation Case from Communication Skills Exercises 233 Business 237 Decision Case 246 Chapter Assignments Collegiate Ts: Three-in-One Financial The following practice sets may be used after Chapter 6: Micro-Tec, Third Edition Practice Set COMPREHENSIVE PROBLEM: Fenwick Fashions Company Internal Control and Merchandising Transactions Decision Point: Audio Track 254 Limitations of Internal Elements and Procedures Internal Control Structure: Basic Internal Control Defined 254 Control 255 Control of Purchases and Internal Control over Merchandising Transactions Control of Cash Sales Receipts 257 Cash Disbursements Bank Statement 265 Deposits 264 Preparing a Bank Reconciliation 265 Decision Point: National Realty Banking Transactions Bank Account 264 Petty Cash Procedures Making Disbursements Reimbursing the Petty Cash Establishing the Petty Cash Fund from the Petty Cash Fund 270 Fund 270 Voucher Operation Voucher Checks 272 Check Register 273 The Voucher System Voucher System 273 Vouchers 271 Register 273 Chapter Review Chapter Assignments Togs 283 Financial Deci- Interpretation Case from J. Walter Thompson 287 Finley's 294 Communication Skills Exercises 283 Industrial Services Company 283 Business 287 sion Case 294 8. Accounting Concepts and Classified Financial Statements Decision Point: The Gap, Inc. Objectives of Financial Information Conventions That Help in the Interpretation of Financial Qualitative Characteristics of Accounting Information Information Materiality 299 Full Disclosure 300 Comparability and Consistency 298 Conservatism 299 Cost-Benefit 300 Ethics and Financial Accounting Concepts and Ethical Reporting Summary of Financial Accounting Concepts 301 Financial Reporting 303 Classified Balance Sheet Owner's Equity 307 Liabilities 307 Forms of the Income Statement Other Financial Statements Assets 304 Evaluation of Profitability 313 Using Classified Financial Statements Evaluation of Liquidity 312

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Total Manufacturing Costs Versus Unit Manufacturing Costs Manufacturing Cost FlowS Statement of Cost of Goods Manufactured Statement of Cost of Goods Manufactured and Sold. Fundamentals of Managerial Accounting 1 Two Product Costing Systems. Job Order Cost Accounting Accounting and the Management Process. Process Cost Accounting Organizations: Their Objectives and Goals. The Management Process Cost Behavior and Estimation. Planning and Budgeting. Cost Behavior Patterns Organizing. Implementing. Variable Costs. Controlling. Fixed Costs Mixed Costs. The Accountant in the Organization Step Costs The Con troller's Office. The Treasurer's Office. Causes of Cost Behavior Patterns.The Engineering Approach to Cost Estimation. The Accounting Process Cost. Estimation from Historical Data. Financial Accounting. Accounting Information as an Managerial Accounting. Selection of a Cost Driver. Economic Commodity The High-Low Approach. The Graphic Approach. Regression Analysis Standards of Ethical Conduct. Income: The Contribution Format. Using Cost Behavior in Reporting. Cost Classification and Flow. Product Costs Versus Period Costs. Cost Classification in a Merchandising Company.. Cost Accounting Systems Cost Classification in a Service Company. Cost Classification in a Manufacturing Company. Job Order Costing. Direct Materials. Direct Labor. Designing a Cost Accounting. Manufacturing Overhead. System Prime Costs and Conversion Costs. Choosing Between Job Order and Process Costing Contents. Job Order Costing. Process Costing. Calculating the Average Cost. per Unit. Accounting for Materials Costs. Purchase of Materials Issue of Materials. Accounting for Labor Costs. Accounting for Manufacturing Overhead Costs. The Predetermined Overhead Rate. Applied Overhead Costs Actual Overhead Costs. Accounting for Over- and Underapplied Overhead Causes of Over- and Underapplied Overhead Reporting Over- or Underapplied Overhead Accounting for the Cost of Finished Goods and the Cost of Goods Sold Cost of Finished Goods Cost of Goods Sold. Preparing Statements of the Cost of Goods Manufactured and Sold. The Statement of Cost of Goods. Manufactured The Statement of Cost of Goods Sold. Process Costing. A Simple llustration of Process.Costing. ldentifying Costs with Activities. Accounting for Partially Completed Units in Ending Inventory. Calculating Equivalent Units for Resources. Added Uniformly. Calculating Equivalent Units for Resources Added in a Lump. Accounting in Managerial. Planning Decisions. Cost-Volume-Profit Analysis. Using Equivalent Units to Calculate. Unit Costs and Total Costs Accounting for Partially Completed. Units in Beginning Inventory. The Moving Average Cost Flow Assumption. The FIFO Cost Flow Assumption. Basic Assumptions of Cost-Volume-Profit Analysis. Basic Approaches to Cost-Volume- Profit Analysis. Equation Approach. Contribution Margin per Unit Approach Contribution Margin Ratio Approach. Multiproduct Cost-Volume- Profit Analysis The Graphic Approach to Cost-Volume-Profit Analysis Some Managerial Uses of Cost-Volume-Profit Analysis. Target Profit. Margin of Safety.Maximizing the Contribution from Scarce Resources. Computerized Cost-Volume-Profit. Analysis Effect ofa Change in Sales Price. Effect ofa Change in Variable Costs. Effect of a Change in Fixed Costs. Effect of a Simultaneous Price and Cost Changes Formulation of the Problem Graphic Solution of a Linear.Program. Planning the Mas ter Budget. Purposes of the Master Budget. Strategic Planning. Coordintion of Activities. Communications of Plans.Avformance Evaluation. Uses and Abuses of the Master Budget. An Overview of the Master Budget. Preparing a Master Budget. Sales Budget. Production 8udget Direct Materials Budget. Direct Labor Budget. Manutacturing Overhead Budget Ending Inventory Budget. Selling and Administrative Expense Budget. Budgeted Income Statement. Cash Budget. Budgeted Balance Sheet. The Master Budget in a Merchandising Company. Sales Budget. Purchases Budget. Selling and Administrative Expense Budget. Cash Budget. Budgeted Income Statement Budgeted Balance Sheet. Use of Computerized Financial. Planning Models New Manufacturing Environment. Suppliers. Flexibility in the Manufacturing Process Quality. Benefits of a JIT Inventory System. Relevant Costs and Management Decisions. Recurring and Nonrecurring. Decisions. Relevant Costs. Sunk Costs Accounting in Managerial. Control Decisions. Special Orders and Capacity.Utilization A Common Pitfall: Unit Fixed Costs. Other Factors in a Special-Order Decision Make-or-Buy Decisions. The Effect of Production Volume. Other Factors in a Make-or-Buy Decision. Adding and Dropping Products. Sell-or-Process-Further Decisions Responsibility Accounting. Common Patterns for Dividing. Responsibility The Principle of Controllability. Level of Authority and Controllability. Time Period and Controllability. Division by Business Function. Division by Product Line. Division by Geographic Region. Financial Responsibility Centers. and Their Accounting Needs Expense Centers. Revenue Centers. Profit Centers. Investment .Centers.Responsibility Accounting: Segmented.Reporting and Direct Costing Preparing Reports for Segments. Product-Line Reports. Territory Reports Reports by Type of Customer. Controllability and Segmented. Reporting Assigning Costs to Organizational. Segments: Direct Costs Versus Common CostsCalculating the Standard Applied. Manufacturing Overhead Cost per Unit Manufacturing Overhead Variances. The Budget Variance. Costs to Inventory: Direct Costing Versus.Absorption Costing Assigning The Volume.Variance. Causes of Manufacturing Overhead. Variances Standard Costs Direct Materials. and Direct Labor. Controlable Costs Allocated Costs. Uses of Standard Costs. Nonfinancial Measures for Controlling Manufacturing Overhead. Cost Accounting. Preparing Budgets Measuring Performance. Application of Flexible Budgets to Non manufacturing Activities. Manufacturing Overhead Costs in the General Ledger Bases of Standard Costs. Currenthy Attainable Standards Theoretical Standards. Performance Measurement: Revenue Centers and Profit Centers Establishing Standards for Direct Materials Calculating Variances for Direct Materials Direct Materials Variances Reporting Direct. Materials Variances to Management Performnance Measurement in Revenue Centers Direct Labor Variances Performance Measurement in Profit Centers Calculation of Revenue Variances Uses of Revenue Variances. Sales Price Variance Sales Volume Variance Sales Mix Variance. Establishing Standards for Direct Labor Calculating Variances for Direct Labor. Reporting Direct Labor Variances to Management. Investigating Variances Statistical Quality Control Managerial Judgment Standard Costs in the General Ledger Revenue Variances for Profit Calculation of Expense and Center Managers Flexible Budgets and Manufacturing Territory, Distribution Channel, Performance Analysis by Sales and Product Line Analysis by Territory Overhead Costs Flexíble Overhead Budgets Format for the Flexible Budget Analysis by Distribution Channel Analysis by Product Advantages of the Flexible Budget Selecting a Cost Driver Manufacturing Overhead Standards Avoiding Seasonal Variations in Cost and Volume Performance Measurement: Investment Centers Calculating the Predetermined Overhead Rate Return on Investment (ROl) Calculating ROI Setting a Budgeted ROI Residual Income (RI) Calculating Rl Seting Target Ra te of Return The Du Pont Formula Return on Sales Asset Turnover Calculating ROl wvith the Du Pont Formula Using the Du Pont Formula Allocation of Corporate Costs Effects of Transfer Prices Problems in Measuring Earnings for an Investment or Profit Center Problems in Measuring Investment for ROI and RI Computations What is Included in Investment How are Included Items Measured Transfer Prices Supplementary Measures of Performance Market-Based Transfer Prices Cost-Based Transfer Prices Multinational Transfer Pricing Advanced Topics in Managerial Accounting ntroduction to Capital Expenditure Analysis Capital Expenditures and Long-Range Characteristics of Capital Expenditures of Investment eturn on lnvestment Versus Return iscounted Cash Flows resent Value Analysis alculating Future Values Calculating Present Values (Discounting) Calculating the Present Value of an Annuity Evaluation of Capital Expenditures New Product Investment Machine Replacement The Incremental Approach to Evaluation Time-Adjusted Rate of Return: An Alternate Method of Analysis Calculating the Time-Adjus ted Rate of Return Interpolating to Find the Time-Adjusted Rate of Return Postaudit of Capital Expenditures Further Topics in Capital Expenditure Analysis The Effect of Income Taxes on Capital Expenditures Gain or Loss from Selling Old Equipment Increased Revenues and Expenses The Depreciation Tax Shield Including Income Tax Effects in a Capital Expenditure Analysis The Cost of Capital and the Minimum Rate of Return Ranking Projects by Profitability Calculating the Payback Period Weaknesses of the Payback Method Ranking Projects by Accounting Rate of Return Shortcomings of Plantwide Cost Alloca tion Ranking Projects by Payback Period Predetermined Overhead Rates Advantages of Activity-Based Predetermined Overhead Rates Assigning Service Activity Costs to Production Activities Acid-Test Ratio Current Ratio ANentin Senie Activities Tao erh Casts to Actities in Whch hey Were curreƠ Accounts Receivable Turnover Average Collection Period Inventory Turnover Apn Senie Acti Costs to User Putcton Activities Calculating Activity-Based Times-Interest-Earned Ratio Average Selling Period Book Value per Share Debt-to-Equity Ratio Predetermined Overhead Rates Assigning Fìxed and Variable Costs Separately Analysis of Financial Statements Statement of Cash Flows Uses for Statements of Cash Flows Definition of Cash Identifying Cash Flows Preparing a Simple Statement of Cash Flows from the Balance Sheet TACcounts as an Aid in Preparing a Format for a Statement of Cash Flows Statement of Cash FlowS Standards for Financial Comparison Compaison with Predetermined Standard's Comparson with Past Performance Comparison with Competitors Preparing Comparative Statements Showing Amount and Percentage of Change Adjusting for Differences in Size: Common-Size Financial Sta tements Use of Ratios Using T Accounts to Doutble-Check and Refine Statements of Cash Flows Earning-Power Ratios Earnings per Share Using T Accounts to Prepare a Statement of Cash Flows Fully Diluted Earnings per Share Price-Earnings Ratio Dividend Payout Ratio Dividenad-Yield Ra tio Present Value Tables Return on Total Assets Ratio

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Total Manufacturing Costs Versus Unit Manufacturing Costs Manufacturing Cost FlowS Statement of Cost of Goods Manufactured Statement of Cost of Goods Manufactured and Sold. Fundamentals of Managerial Accounting 1 Two Product Costing Systems. Job Order Cost Accounting Accounting and the Management Process. Process Cost Accounting Organizations: Their Objectives and Goals. The Management Process Cost Behavior and Estimation. Planning and Budgeting. Cost Behavior Patterns Organizing. Implementing. Variable Costs. Controlling. Fixed Costs Mixed Costs. The Accountant in the Organization Step Costs The Con troller's Office. The Treasurer's Office. Causes of Cost Behavior Patterns.The Engineering Approach to Cost Estimation. The Accounting Process Cost. Estimation from Historical Data. Financial Accounting. Accounting Information as an Managerial Accounting. Selection of a Cost Driver. Economic Commodity The High-Low Approach. The Graphic Approach. Regression Analysis Standards of Ethical Conduct. Income: The Contribution Format. Using Cost Behavior in Reporting. Cost Classification and Flow. Product Costs Versus Period Costs. Cost Classification in a Merchandising Company.. Cost Accounting Systems Cost Classification in a Service Company. Cost Classification in a Manufacturing Company. Job Order Costing. Direct Materials. Direct Labor. Designing a Cost Accounting. Manufacturing Overhead. System Prime Costs and Conversion Costs. Choosing Between Job Order and Process Costing Contents. Job Order Costing. Process Costing. Calculating the Average Cost. per Unit. Accounting for Materials Costs. Purchase of Materials Issue of Materials. Accounting for Labor Costs. Accounting for Manufacturing Overhead Costs. The Predetermined Overhead Rate. Applied Overhead Costs Actual Overhead Costs. Accounting for Over- and Underapplied Overhead Causes of Over- and Underapplied Overhead Reporting Over- or Underapplied Overhead Accounting for the Cost of Finished Goods and the Cost of Goods Sold Cost of Finished Goods Cost of Goods Sold. Preparing Statements of the Cost of Goods Manufactured and Sold. The Statement of Cost of Goods. Manufactured The Statement of Cost of Goods Sold. Process Costing. A Simple llustration of Process.Costing. ldentifying Costs with Activities. Accounting for Partially Completed Units in Ending Inventory. Calculating Equivalent Units for Resources. Added Uniformly. Calculating Equivalent Units for Resources Added in a Lump. Accounting in Managerial. Planning Decisions. Cost-Volume-Profit Analysis. Using Equivalent Units to Calculate. Unit Costs and Total Costs Accounting for Partially Completed. Units in Beginning Inventory. The Moving Average Cost Flow Assumption. The FIFO Cost Flow Assumption. Basic Assumptions of Cost-Volume-Profit Analysis. Basic Approaches to Cost-Volume- Profit Analysis. Equation Approach. Contribution Margin per Unit Approach Contribution Margin Ratio Approach. Multiproduct Cost-Volume- Profit Analysis The Graphic Approach to Cost-Volume-Profit Analysis Some Managerial Uses of Cost-Volume-Profit Analysis. Target Profit. Margin of Safety.Maximizing the Contribution from Scarce Resources. Computerized Cost-Volume-Profit. Analysis Effect ofa Change in Sales Price. Effect ofa Change in Variable Costs. Effect of a Change in Fixed Costs. Effect of a Simultaneous Price and Cost Changes Formulation of the Problem Graphic Solution of a Linear.Program. Planning the Mas ter Budget. Purposes of the Master Budget. Strategic Planning. Coordintion of Activities. Communications of Plans.Avformance Evaluation. Uses and Abuses of the Master Budget. An Overview of the Master Budget. Preparing a Master Budget. Sales Budget. Production 8udget Direct Materials Budget. Direct Labor Budget. Manutacturing Overhead Budget Ending Inventory Budget. Selling and Administrative Expense Budget. Budgeted Income Statement. Cash Budget. Budgeted Balance Sheet. The Master Budget in a Merchandising Company. Sales Budget. Purchases Budget. Selling and Administrative Expense Budget. Cash Budget. Budgeted Income Statement Budgeted Balance Sheet. Use of Computerized Financial. Planning Models New Manufacturing Environment. Suppliers. Flexibility in the Manufacturing Process Quality. Benefits of a JIT Inventory System. Relevant Costs and Management Decisions. Recurring and Nonrecurring. Decisions. Relevant Costs. Sunk Costs Accounting in Managerial. Control Decisions. Special Orders and Capacity.Utilization A Common Pitfall: Unit Fixed Costs. Other Factors in a Special-Order Decision Make-or-Buy Decisions. The Effect of Production Volume. Other Factors in a Make-or-Buy Decision. Adding and Dropping Products. Sell-or-Process-Further Decisions Responsibility Accounting. Common Patterns for Dividing. Responsibility The Principle of Controllability. Level of Authority and Controllability. Time Period and Controllability. Division by Business Function. Division by Product Line. Division by Geographic Region. Financial Responsibility Centers. and Their Accounting Needs Expense Centers. Revenue Centers. Profit Centers. Investment .Centers.Responsibility Accounting: Segmented.Reporting and Direct Costing Preparing Reports for Segments. Product-Line Reports. Territory Reports Reports by Type of Customer. Controllability and Segmented. Reporting Assigning Costs to Organizational. Segments: Direct Costs Versus Common CostsCalculating the Standard Applied. Manufacturing Overhead Cost per Unit Manufacturing Overhead Variances. The Budget Variance. Costs to Inventory: Direct Costing Versus.Absorption Costing Assigning The Volume.Variance. Causes of Manufacturing Overhead. Variances Standard Costs Direct Materials. and Direct Labor. Controlable Costs Allocated Costs. Uses of Standard Costs. Nonfinancial Measures for Controlling Manufacturing Overhead. Cost Accounting. Preparing Budgets Measuring Performance. Application of Flexible Budgets to Non manufacturing Activities. Manufacturing Overhead Costs in the General Ledger Bases of Standard Costs. Currenthy Attainable Standards Theoretical Standards. Performance Measurement: Revenue Centers and Profit Centers Establishing Standards for Direct Materials Calculating Variances for Direct Materials Direct Materials Variances Reporting Direct. Materials Variances to Management Performnance Measurement in Revenue Centers Direct Labor Variances Performance Measurement in Profit Centers Calculation of Revenue Variances Uses of Revenue Variances. Sales Price Variance Sales Volume Variance Sales Mix Variance. Establishing Standards for Direct Labor Calculating Variances for Direct Labor. Reporting Direct Labor Variances to Management. Investigating Variances Statistical Quality Control Managerial Judgment Standard Costs in the General Ledger Revenue Variances for Profit Calculation of Expense and Center Managers Flexible Budgets and Manufacturing Territory, Distribution Channel, Performance Analysis by Sales and Product Line Analysis by Territory Overhead Costs Flexíble Overhead Budgets Format for the Flexible Budget Analysis by Distribution Channel Analysis by Product Advantages of the Flexible Budget Selecting a Cost Driver Manufacturing Overhead Standards Avoiding Seasonal Variations in Cost and Volume Performance Measurement: Investment Centers Calculating the Predetermined Overhead Rate Return on Investment (ROl) Calculating ROI Setting a Budgeted ROI Residual Income (RI) Calculating Rl Seting Target Ra te of Return The Du Pont Formula Return on Sales Asset Turnover Calculating ROl wvith the Du Pont Formula Using the Du Pont Formula Allocation of Corporate Costs Effects of Transfer Prices Problems in Measuring Earnings for an Investment or Profit Center Problems in Measuring Investment for ROI and RI Computations What is Included in Investment How are Included Items Measured Transfer Prices Supplementary Measures of Performance Market-Based Transfer Prices Cost-Based Transfer Prices Multinational Transfer Pricing Advanced Topics in Managerial Accounting ntroduction to Capital Expenditure Analysis Capital Expenditures and Long-Range Characteristics of Capital Expenditures of Investment eturn on lnvestment Versus Return iscounted Cash Flows resent Value Analysis alculating Future Values Calculating Present Values (Discounting) Calculating the Present Value of an Annuity Evaluation of Capital Expenditures New Product Investment Machine Replacement The Incremental Approach to Evaluation Time-Adjusted Rate of Return: An Alternate Method of Analysis Calculating the Time-Adjus ted Rate of Return Interpolating to Find the Time-Adjusted Rate of Return Postaudit of Capital Expenditures Further Topics in Capital Expenditure Analysis The Effect of Income Taxes on Capital Expenditures Gain or Loss from Selling Old Equipment Increased Revenues and Expenses The Depreciation Tax Shield Including Income Tax Effects in a Capital Expenditure Analysis The Cost of Capital and the Minimum Rate of Return Ranking Projects by Profitability Calculating the Payback Period Weaknesses of the Payback Method Ranking Projects by Accounting Rate of Return Shortcomings of Plantwide Cost Alloca tion Ranking Projects by Payback Period Predetermined Overhead Rates Advantages of Activity-Based Predetermined Overhead Rates Assigning Service Activity Costs to Production Activities Acid-Test Ratio Current Ratio ANentin Senie Activities Tao erh Casts to Actities in Whch hey Were curreƠ Accounts Receivable Turnover Average Collection Period Inventory Turnover Apn Senie Acti Costs to User Putcton Activities Calculating Activity-Based Times-Interest-Earned Ratio Average Selling Period Book Value per Share Debt-to-Equity Ratio Predetermined Overhead Rates Assigning Fìxed and Variable Costs Separately Analysis of Financial Statements Statement of Cash Flows Uses for Statements of Cash Flows Definition of Cash Identifying Cash Flows Preparing a Simple Statement of Cash Flows from the Balance Sheet TACcounts as an Aid in Preparing a Format for a Statement of Cash Flows Statement of Cash FlowS Standards for Financial Comparison Compaison with Predetermined Standard's Comparson with Past Performance Comparison with Competitors Preparing Comparative Statements Showing Amount and Percentage of Change Adjusting for Differences in Size: Common-Size Financial Sta tements Use of Ratios Using T Accounts to Doutble-Check and Refine Statements of Cash Flows Earning-Power Ratios Earnings per Share Using T Accounts to Prepare a Statement of Cash Flows Fully Diluted Earnings per Share Price-Earnings Ratio Dividend Payout Ratio Dividenad-Yield Ratio Present Value Tables Return on Total Assets Ratio

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Total Manufacturing Costs Versus Unit Manufacturing Costs Manufacturing Cost FlowS Statement of Cost of Goods Manufactured Statement of Cost of Goods Manufactured and Sold. Fundamentals of Managerial Accounting 1 Two Product Costing Systems. Job Order Cost Accounting Accounting and the Management Process. Process Cost Accounting Organizations: Their Objectives and Goals. The Management Process Cost Behavior and Estimation. Planning and Budgeting. Cost Behavior Patterns Organizing. Implementing. Variable Costs. Controlling. Fixed Costs Mixed Costs. The Accountant in the Organization Step Costs The Con troller's Office. The Treasurer's Office. Causes of Cost Behavior Patterns.The Engineering Approach to Cost Estimation. The Accounting Process Cost. Estimation from Historical Data. Financial Accounting. Accounting Information as an Managerial Accounting. Selection of a Cost Driver. Economic Commodity The High-Low Approach. The Graphic Approach. Regression Analysis Standards of Ethical Conduct. Income: The Contribution Format. Using Cost Behavior in Reporting. Cost Classification and Flow. Product Costs Versus Period Costs. Cost Classification in a Merchandising Company.. Cost Accounting Systems Cost Classification in a Service Company. Cost Classification in a Manufacturing Company. Job Order Costing. Direct Materials. Direct Labor. Designing a Cost Accounting. Manufacturing Overhead. System Prime Costs and Conversion Costs. Choosing Between Job Order and Process Costing Contents. Job Order Costing. Process Costing. Calculating the Average Cost. per Unit. Accounting for Materials Costs. Purchase of Materials Issue of Materials. Accounting for Labor Costs. Accounting for Manufacturing Overhead Costs. The Predetermined Overhead Rate. Applied Overhead Costs Actual Overhead Costs. Accounting for Over- and Underapplied Overhead Causes of Over- and Underapplied Overhead Reporting Over- or Underapplied Overhead Accounting for the Cost of Finished Goods and the Cost of Goods Sold Cost of Finished Goods Cost of Goods Sold. Preparing Statements of the Cost of Goods Manufactured and Sold. The Statement of Cost of Goods. Manufactured The Statement of Cost of Goods Sold. Process Costing. A Simple llustration of Process.Costing. ldentifying Costs with Activities. Accounting for Partially Completed Units in Ending Inventory. Calculating Equivalent Units for Resources. Added Uniformly. Calculating Equivalent Units for Resources Added in a Lump. Accounting in Managerial. Planning Decisions. Cost-Volume-Profit Analysis. Using Equivalent Units to Calculate. Unit Costs and Total Costs Accounting for Partially Completed. Units in Beginning Inventory. The Moving Average Cost Flow Assumption. The FIFO Cost Flow Assumption. Basic Assumptions of Cost-Volume-Profit Analysis. Basic Approaches to Cost-Volume- Profit Analysis. Equation Approach. Contribution Margin per Unit Approach Contribution Margin Ratio Approach. Multiproduct Cost-Volume- Profit Analysis The Graphic Approach to Cost-Volume-Profit Analysis Some Managerial Uses of Cost-Volume-Profit Analysis. Target Profit. Margin of Safety.Maximizing the Contribution from Scarce Resources. Computerized Cost-Volume-Profit. Analysis Effect ofa Change in Sales Price. Effect ofa Change in Variable Costs. Effect of a Change in Fixed Costs. Effect of a Simultaneous Price and Cost Changes Formulation of the Problem Graphic Solution of a Linear.Program. Planning the Mas ter Budget. Purposes of the Master Budget. Strategic Planning. Coordintion of Activities. Communications of Plans.Avformance Evaluation. Uses and Abuses of the Master Budget. An Overview of the Master Budget. Preparing a Master Budget. Sales Budget. Production 8udget Direct Materials Budget. Direct Labor Budget. Manutacturing Overhead Budget Ending Inventory Budget. Selling and Administrative Expense Budget. Budgeted Income Statement. Cash Budget. Budgeted Balance Sheet. The Master Budget in a Merchandising Company. Sales Budget. Purchases Budget. Selling and Administrative Expense Budget. Cash Budget. Budgeted Income Statement Budgeted Balance Sheet. Use of Computerized Financial. Planning Models New Manufacturing Environment. Suppliers. Flexibility in the Manufacturing Process Quality. Benefits of a JIT Inventory System. Relevant Costs and Management Decisions. Recurring and Nonrecurring. Decisions. Relevant Costs. Sunk Costs Accounting in Managerial. Control Decisions. Special Orders and Capacity.Utilization A Common Pitfall: Unit Fixed Costs. Other Factors in a Special-Order Decision Make-or-Buy Decisions. The Effect of Production Volume. Other Factors in a Make-or-Buy Decision. Adding and Dropping Products. Sell-or-Process-Further Decisions Responsibility Accounting. Common Patterns for Dividing. Responsibility The Principle of Controllability. Level of Authority and Controllability. Time Period and Controllability. Division by Business Function. Division by Product Line. Division by Geographic Region. Financial Responsibility Centers. and Their Accounting Needs Expense Centers. Revenue Centers. Profit Centers. Investment .Centers.Responsibility Accounting: Segmented.Reporting and Direct Costing Preparing Reports for Segments. Product-Line Reports. Territory Reports Reports by Type of Customer. Controllability and Segmented. Reporting Assigning Costs to Organizational. Segments: Direct Costs Versus Common CostsCalculating the Standard Applied. Manufacturing Overhead Cost per Unit Manufacturing Overhead Variances. The Budget Variance. Costs to Inventory: Direct Costing Versus.Absorption Costing Assigning The Volume.Variance. Causes of Manufacturing Overhead. Variances Standard Costs Direct Materials. and Direct Labor. Controlable Costs Allocated Costs. Uses of Standard Costs. Nonfinancial Measures for Controlling Manufacturing Overhead. Cost Accounting. Preparing Budgets Measuring Performance. Application of Flexible Budgets to Non manufacturing Activities. Manufacturing Overhead Costs in the General Ledger Bases of Standard Costs. Currenthy Attainable Standards Theoretical Standards. Performance Measurement: Revenue Centers and Profit Centers Establishing Standards for Direct Materials Calculating Variances for Direct Materials Direct Materials Variances Reporting Direct. Materials Variances to Management Performnance Measurement in Revenue Centers Direct Labor Variances Performance Measurement in Profit Centers Calculation of Revenue Variances Uses of Revenue Variances. Sales Price Variance Sales Volume Variance Sales Mix Variance. Establishing Standards for Direct Labor Calculating Variances for Direct Labor. Reporting Direct Labor Variances to Management. Investigating Variances Statistical Quality Control Managerial Judgment Standard Costs in the General Ledger Revenue Variances for Profit Calculation of Expense and Center Managers Flexible Budgets and Manufacturing Territory, Distribution Channel, Performance Analysis by Sales and Product Line Analysis by Territory Overhead Costs Flexíble Overhead Budgets Format for the Flexible Budget Analysis by Distribution Channel Analysis by Product Advantages of the Flexible Budget Selecting a Cost Driver Manufacturing Overhead Standards Avoiding Seasonal Variations in Cost and Volume Performance Measurement: Investment Centers Calculating the Predetermined Overhead Rate Return on Investment (ROl) Calculating ROI Setting a Budgeted ROI Residual Income (RI) Calculating Rl Seting Target Ra te of Return The Du Pont Formula Return on Sales Asset Turnover Calculating ROl wvith the Du Pont Formula Using the Du Pont Formula Allocation of Corporate Costs Effects of Transfer Prices Problems in Measuring Earnings for an Investment or Profit Center Problems in Measuring Investment for ROI and RI Computations What is Included in Investment How are Included Items Measured Transfer Prices Supplementary Measures of Performance Market-Based Transfer Prices Cost-Based Transfer Prices Multinational Transfer Pricing Advanced Topics in Managerial Accounting ntroduction to Capital Expenditure Analysis Capital Expenditures and Long-Range Characteristics of Capital Expenditures of Investment eturn on lnvestment Versus Return iscounted Cash Flows resent Value Analysis alculating Future Values Calculating Present Values (Discounting) Calculating the Present Value of an Annuity Evaluation of Capital Expenditures New Product Investment Machine Replacement The Incremental Approach to Evaluation Time-Adjusted Rate of Return: An Alternate Method of Analysis Calculating the Time-Adjus ted Rate of Return Interpolating to Find the Time-Adjusted Rate of Return Postaudit of Capital Expenditures Further Topics in Capital Expenditure Analysis The Effect of Income Taxes on Capital Expenditures Gain or Loss from Selling Old Equipment Increased Revenues and Expenses The Depreciation Tax Shield Including Income Tax Effects in a Capital Expenditure Analysis The Cost of Capital and the Minimum Rate of Return Ranking Projects by Profitability Calculating the Payback Period Weaknesses of the Payback Method Ranking Projects by Accounting Rate of Return Shortcomings of Plantwide Cost Alloca tion Ranking Projects by Payback Period Predetermined Overhead Rates Advantages of Activity-Based Predetermined Overhead Rates Assigning Service Activity Costs to Production Activities Acid-Test Ratio Current Ratio ANentin Senie Activities Tao erh Casts to Actities in Whch hey Were curreƠ Accounts Receivable Turnover Average Collection Period Inventory Turnover Apn Senie Acti Costs to User Putcton Activities Calculating Activity-Based Times-Interest-Earned Ratio Average Selling Period Book Value per Share Debt-to-Equity Ratio Predetermined Overhead Rates Assigning Fìxed and Variable Costs Separately Analysis of Financial Statements Statement of Cash Flows Uses for Statements of Cash Flows Definition of Cash Identifying Cash Flows Preparing a Simple Statement of Cash Flows from the Balance Sheet TACcounts as an Aid in Preparing a Format for a Statement of Cash Flows Statement of Cash FlowS Standards for Financial Comparison Compaison with Predetermined Standard's Comparson with Past Performance Comparison with Competitors Preparing Comparative Statements Showing Amount and Percentage of Change Adjusting for Differences in Size: Common-Size Financial Sta tements Use of Ratios Using T Accounts to Doutble-Check and Refine Statements of Cash Flows Earning-Power Ratios Earnings per Share Using T Accounts to Prepare a Statement of Cash Flows Fully Diluted Earnings per Share Price-Earnings Ratio Dividend Payout Ratio Dividenad-Yield Ratio Present Value Tables Return on Total Assets Ratio

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Financial reporting and the accounting cycle. Income determination.Reporting assets, liabilities, and owners’ equity. Other dimensions of financial reporting. Foundations of management accounting Planning,control,and performance evaluation. Oter dimentions of decision making .Illustrative financial statements

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Financial reporting and the accounting cycle. Income determination.Reporting assets, liabilities, and owners’ equity. Other dimensions of financial reporting. Foundations of management accounting Planning,control,and performance evaluation. Oter dimentions of decision making .Illustrative financial statements.

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CHANGING PERSPECTIVES Portrait of a Changing Consumer, Ken Dychtwald and Greg Gable, Business Horizons, January-February 1990. Based upon years of research, focus group studies, and demo- graphic analysis, the authors discuss how marketers must incor- porate the changes in their customer base into changes in their future marketing strategies. Finding New Ways to Sell More, Susan Caminiti, Fortune, July 27, 1992. To sell more in the 1990s, according to the author, a marketing strategy that will genuinely focus on the customer must be involved. This strategy will involve listening better to consumers' needs, broadening product lines, and exploring new markets. Value Marketing, Business Week, November 11, 1991. This article describes how value marketing involves much more than simply slashing prices or handing out coupons. It means providing an improved product with added features and en- hanced service-all at a better price. Born-Again Marketing, Allan J. Magrath, Across the Board, June 1991. The experiences of five firms reveal that remaking a corporate image involves solid market research, a long-term corporate identity plan, a shift in strategic priorities, improved product distribution, and a focus on margins. THE MARKETING CONCEPT Marketing Myopia (With Retrospective Commentary), Theodore Levitt, Harvard Business Review, September/ October 1975. According to Theodore Levitt, shortsightedness can make man- agers unable to recognize that there is no such thing as a growth industry-as the histories of the railroad, movie, and oil industries show. To survive, he says, a company must learn to apply the marketing concept: to think of itself not as producing goods or services, but as buying customers. Smart Selling, Business Week, August 3, 1992. This article describes how, in any business, smart selling means focusing the entire organization on its customers. This encom- passes changes in everything from how salespeople are hired, trained, and paid, to how the CEO does his or her job. Relationship Marketing: Positioning for the Future, Jonathan R. Copulsky and Michael J. Wolf, Journal of Business Strategy, July/August 1990. The authors demonstrate how relationship marketing combines elements of general advertising, sales promotion, public rela- tions, and direct marketing to create more effective and more efficient ways of reaching consumers. The Customer's Always Right, Adrienne S. Harris, Black Enterprise, June 1991. Adrienne Harris discusses how today's tight economy, competi- tive circumstances, and ever-changing demands are forcing business owners to recognize their customers as their most valuable asset. Building Customer Loyalty, David L. Stum and Alain The shifting wishes, demographics, and needs of consumers Thiry, Training and Development Journal, April 1991. I have made it difficult to accurately predict customers' attitudes and to respond to their expectations. The authors give sugges Going Beyond Customer Satisfaction, Eberhard E. tions for developing a plan to instill customer loyalty. Scheuing, Marketing Forum, September 1991. According to Eberhard Scheuing, satisfying customers ensures tions, provides a competitive advantage, and ensures future current survival, delights customers by exceeding their expecta- growth. SERVICES AND SOCIAL MARKETING January/February 1989. Service Marketing: Image, Branding, and Competition, Sak Onkvisit and John J. Shaw, Business Horizons. The authors provide convincing evidence that the marketing of services-even more than product marketing-requires the development of a positive image to transform it from a commodity to a service. The article discusses the relationship between the service image, an individual's image, and final purchase behav- Where Service Flies Right, Richard S. Teitelbaum, Fortune, August 24, 1992. This article describes how the CEO of Southwest Airlines has boosted profits in treacherous economic times by championing the customer. Ringing in a New Era, Erika Penzer, Incentive, December 1990. In a social climate growing increasingly hostile toward drunk driving and raucous behavior, beer and liquor companies are packaging something extra: an image of caring and concern via public-service campaigns that encourage moderate, responsi- ble consumption of their products. MARKETING ETHICS AND SOCIAL RESPONSIBILITY Green Marketing: Can It Be Harmful to Your Health? Kathyleen A. O'Brien, Industry Week, April 20, 1992. Today, more and more products are promoted as "safe for the environment" or "recyclable." However, the author points out that "green marketing" can be risky. False or misleading "green claims" can lead to hefty fines and damage, injunctions, and the embarrassment of negative publicity. America's Hamburger Helper, Edwin M. Reingold, Time, June 29, 1992. The article points out how McDonald's stands out not only as one of the more socially responsible companies in America but also as one of the nation's few truly effective social engineers. 1992. Toy Maker Faces Dilemma as Water Gun Spurs Vio- lence, Joseph Pereira, The Wall Street Journal, June 11, Joseph Pereira addresses the ethical dilemma faced by Larami Corporation's management in the marketing strategy of its top- selling water gun-Super Soaker. MARKET RESEARCH Market Research: A Pocket Guide for Managers, Fahri Karakaya, SAM Advanced Management Journal, Summer 1991. The author elucidates that the successful planning, implementa- tion, and control of marketing strategies and the solving of marketing problems require good research and information about customers, products, and the business environment. Will It Sell in Podunk? Hard to Say, Business Week, August 10, 1992. According to this article, today few companies can afford to do traditional test marketing for new products. Data Mills Delve Deep to Find Information About U.S. Consumers, Michael W. Miller, The Wall Street Journal, March 14, 1991. The author characterizes some of the ethical, economic, and research ramifications of direct marketing. MARKETS AND DEMOGRAPHICS The Move Toward Ethnic Marketing, William Dunn, Nation's Business, July 1992. Ethnic marketing is not a fad. According to William Dunn, the underlying demographics, detailed in the 1990 Census, indicate that marketing to targeted minority groups is a sound marketing strategy. Baby Busters: The Neglected Generation, John E. Rich- ardson and Brad Sago, The Dushkin Publishing Group, 1993. The authors describe some of the significant demographic and psychographic characteristics of the Baby Buster Generation. They also suggest considerations that marketers need to be cognizant of when addressing the busters. The Brave New World of Men, Diane Crispell, American Demographics, January 1992. The author believes that knowing how men are changing-and how they are not-is the key to targeting them in the 1990s. Strategically Positioning Your Way into the Aging Mar- ketplace, Charles D. Schewe, Business Horizons, May/ June 1991. Charles Schewe discusses how marketers must take special care when positioning their products toward the older segment of the consumer market. CONSUMER BEHAVIOR Consumer Behavior: Yesterday, Today, and Tomorrow, Judith Lynne Zaichkowsky, Business Horizons, May/June 1991. How the individual-oriented consumer behavior of the past will change to a more collective style in the 1990s is prognosticated in this article. How Much Is a Loyal Customer Worth? Jonathan I. Mark Knowing the loyalty behavior of consumers can help create real and sustainable competitive gain. For example, loyal customers and Jeremy H. Silverman, Across the Board, May 1992. frequently respond to different advertising messages and exhibit different packaging preferences than other consumers do. Consumers Bored by the '90s Yearn for Finer Things in Life, Carrie Goerne, Marketing News, June 8, 1992. much as conspicuous consumption or status buying. Many con- some market segments is not necessarily forgoing luxury so This article reveals how consumer purchasing behavior for sumers reflect that quality and value are the critical ingredients of their purchasing decisions. How to Deal With Tougher Customers, Faye Rice, Fortune, December 3, 1990. inquisitive, discriminating. No longer content with products that Meet the paradigm of today's tougher customers-demanding, break down, they are insisting on high-quality goods that save time, energy, and calories; preserve the environment; and come from a manufacturer they think is socially responsible. Market-Driven Strategies for Competitive Advantage, David W. Cravens and Shannon H. Shipp, Business Hori- zons, January/February 1991. The authors delineate how unprecedented global competition and an increasingly dynamic marketplace, influenced by massive demographic and socioeconomic shifts in the population base, are some of the forces driving executives to alter their business and marketing strategies to improve competitive advantage. Finding a Market Niche, Ted J. Rakstis, Kiwanis Maga- zine, September 1991. Ted Rakstis lays out some salient components for a marketing strategy that intends to target special consumer groups. The Fine Art of Positioning, Edward DiMingo, Journal of Business Strategy, March/April 1988. Marketing and psychological positioning can help con- sumers learn the real differences among competing products so they can choose the one that is of most value. Why "New" Is Old Hat, Joshua Levine, Forbes, July 22, 1991. Consumer product companies face a real dilemma. The public's enthusiasm for new products is flagging just as the costs to launch new products are climbing. 'Buy American' Is Easier Said Than Done, James S. Hirsch and Dana Milbank, The Wall Street Journal, January 28, 1992. In regard to buying American products, the authors describe how Americans are torn between their patriotic loyalties and various economic and market realities. True Stories, Bob Weinstein, The Entrepreneur, July 1992. Coke and Pepsi have it; so do Kleenex and Scope. But hundreds of other products that lack a strong marketing campaign fail each year. Bob Weinstein discusses ways to help a product be a survivor. PRICING Naming Your Price, Michael D. Mondello, Inc., July 1992. For many small companies few decisions are as important-and as neglected-as price setting. This article provides some help- ful suggestions on ways to establish a tenable pricing strategy. Ten Timeless Truths About Pricing, Allan J. Magrath, The Journal of Consumer Marketing, Winter 1991. The author suggests several principles in the area of pricing that marketers need to be cognizant of and for which they need to develop skills. Marketing the Premium Product, John A. Quelch, Business Horizons, May/June 1987. Premium products-from gourmet ice cream to luxury imported cars-are being targeted at the upper end of the price perform- ance pyramid. Becoming a premium marketer offers both oppor- tunities for growth and potential risks. Why the Price Wars Never End, Bill Saporito, Fortune, March 23, 1992. Price wars, once a tool of limited strategic value from the toolbox of limited strategic thinkers, are becoming a depressing fact of everyday life in businesses ranging from autos to credit cards to steel to computers. DISTRIBUTION Training for a New Ball Game: Retailing in the 21st Century, Alfred F. Lynch, The Futurist, July/August 1992. In the future, the author foresees that the retail "game" will have changing rules, altered playing fields, and added new competitors. The Gatekeepers, Allan J. Magrath, Across the Board, April 1992. According to Allan Magrath, the power of major retail chains and wholesale distributor organizations is enormous and growing. As the gatekeepers to customers, they dominate and control the American landscape to an extent that is seldom realized. Thriving Factory Outlets Anger Retailers as Store Sup- pliers Turn Into Competitors, Kevin Helliker, The Wall Street Journal, October 8, 1991. The trend of increasing numbers of factory outlet malls has angered retailers who do not want their suppliers competing against them-even if the merchandise varies. PROMOTION What's Right, What's Wrong With Each Medium, Tom Eisenhart, Business Marketing, April 1990. Selecting the right media tools to promote marketing messages requires careful consideration of all the available options. In addition to providing help in this area, the article concludes with some criteria for tailoring a media mix that includes length of message, targetability, demographic mix, and psychographic match. What Happened to Advertising? Business Week, Sep- slogged through bad economic periods before, this one is differ- This article scrutinizes how although Madison Avenue has consumers are tuning out. Brand loyalty is a relic of the '50s, and ent. Bombarded by some 3,000 advertising messages a day, the old-fashioned Big Campaign is giving way to micromarketing tactics such as tie-ins and direct mail. The Future of Advertising, Bruce Horovitz, Los Angeles Times, October 6, 1991. the way products are touted. Advertising in the future may Improved technology and tight economic times are reshaping depend as much upon Silicon Valley as Madison Avenue. Strategic Options for Global Market Players, Edward R. Koepfler, Journal of Business Strategy, July/August 1989. The author explains how developing a product that meets world-wide requirements and positioning that product to cap- italize on local needs can help a company to capture new markets with good potential for growth. Reaching the Real Europe, Blayne Cutler, American De- mographics, October 1990. In global marketing for Europe, the author advises the impor- tance of doing your homework. Europe is the land of 1,000 regions-each offering a different challenge. Beware the Pitfalls of Global Marketing, Kamran Ka- shani, Harvard Business Review, September/October 1989. In global marketing, the author elucidates how shortcomings in a marketing strategy, such as inadequate research and poor follow-up, can fell a good product. It's in the Mail! Art Garcia, World Trade, April 1992. Mail-order companies are entering the global marketplace-led by midsized firms like The Sharper Image and Patagonia. In Pursuit of the Elusive Euroconsumer, E. S. Browning, The Wall Street Journal, April 23, 1992. The author describes how the global marketing of products in Europe is difficult, since the Europroduct is a lot easier to imagine than it is to create and sell, and the Euroconsumer is maddeningly elusive. How Americans Win in Asia, Louis Kraar, Fortune, October 7, 1991. Louis Kraar believes that building a business in Asia is sure to be difficult, expensive, and time-consuming. Nevertheless, in the coming decade, the Pacific powerhouses-running from Japan and Korea through Southeast Asia-will be the centers of global growth and the hottest markets on Earth.

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DEVELOPMENTOF HUMAN RESOURCE MANAGEMENT To the Reader Topic Gulde Overview 1. Human Resources Management in the 1990s, Anthony Business Horizons, January/February 1990. Redwood, Over the next decade, human resource management will change with more minorities and women entering the work force. There will be smaller numbers of younger workers than in the past. and labor will age as a result of the baby-boomers getting older. This article discusses what firms will have to do to keep and attract qualified and qualifiable workers in the 1990s. THE ENVIRONMENT OF HUMAN RESOURCE MANAGEMENT 2. A New Perspective for Tomorrow's Workforce, William Week, May 6, 1991. The work force is changing, but like all demographic changes the change is coming slowly but inexorably. This article examines some of those changes and the initial reaction to the Hudson Institute's original Workforce 2000 report. It also examines what several firms are doing to meet the challenges of a changing Industry work force. H. Miller, 3. Outlook 1990-2005: Major Trends and Issues, Ronald E. Kutscher, Occupational Outlook Quarterly, Spring 1992. Ronald Kutscher examines where the jobs are going to be in the next 10 years, what their requirements are going to be, and who is going to fill them. HUMAN RESOURCES AND CORPORATE STRATEGY 4. Strategic Human Resources Management: Linking the People With the Strategic Needs of the Business, Randall S. Schuler, Organizational Dynamics, Summer 1992. Randall Schuler has developed a model for strategic human resources management with the 5-P's: Philosophy, Policies, Programs, Practices, and Processes. In this article, Schuler ex- plains how the model works, focusing on such firms as Grand Union, Forest Products Company, and Pepsi-Cola International. 5. Getting Payoff From investment in Human Resource Management, Lloyd Baird and llan Meshoulam, Business Horizons, January/February 1992. This article examines why certain human resource management programs are not successful in major organizations and how Some of these firms are wasting their money. Clues on how to determine whether or not the human resource management system is working and some strategies on what managers can do if t is not are provided. D. EOUAL EMPLOYMENT OPPORTUNITY AND AFIRMATIVE ACTION 6. Sexual Harassment: After the Headlines, Chris Lee Training, March 1982. Everyone recalls the Clarence Thomas confirmation hearings for the Supreme Court and the role played by Anita Ha, Dut now that sexual harassment has passed from the headlines, what are the rest of us to do? This article addresses exactly what sexual harassment is and what organizations can do to protect them selves. 7. Outcomes of Federal Court Decisions on Sexual Harassment, David E. Terpstra and Douglas D. Baker Academy of Management Journal, March 1992 This article looks at the sexual harassment cases brought to federal court, and, using statistical measures, it identifies variables that can predict the Success of the complainant’s lawsuit. AMERICANS WITH DISABILITIES ACT 8. Time to Focus on the Disabilities, Michael A. Verespej. Industry Week, April 6, 19982. Workers with disabilities are a labor pool that has remained largely untouched by industry. With the advent of the Americans with Disabilities Act (ADA), employers will have to start consider- Ing this group as potential employees. The way to do that, as this article points out, is to focus on their abilities, not their disabilities. 9. That Was Then, This ls Now, Bob Smith, HR Focus, July 1992. The Americans with Disabilities Act (ADA) will significantly change the workplace and help disabled employees to find appropriate positions. This article outlines some of the ways this will happen. Overview A. JOB REQUIREMENTS 10. Job Descriptions Do More Than Describe Duties, J. E. Osborne, Supervisory Management, February 1992. What makes a good job description? This brief article outlines six elements of a good job description. 11. Jobs of the Future and the Skills They Will Require, Thomas Bailey, American Educator, Spring 1990. Years ago, some people predicted that jobs would become simpler and less complex. As this article demonstrates, that is not the case. Rather, the labor force is going to need more skills and education than it did in the past. 12. A Behavioral Job Description for Managers, Nanette Fondas, Organizational Dynamics, Summer 1992. Most traditional Job descriptions involve a list of tasks that the individual must perform on the job. But anyone who knows anything about jobs knows that they involve much more than just tasks-they involve behaviors, such as communication, interaction, power relationships, as well as others. This article explores a way to address these aspects of the job. HUMAN RESOURCE PLANNING, SELECTION, AND RECRUITMENT 13. Where People Come First, Michael A. Verespej, Industry Week, July 16, 1990. Many corporations talk about some of the new and exciting types of benefits they can offer their employees to help meet their needs. Unfortunately, a great deal of it is just talk. This article is about three companies that are actually doing something for their employees. 14. 10 Common Hiring Mistakes, Christina L. Greathouse, Industry Week, January 20, 1992. The reasons why people are let go can often be found in the hiring process that brought them into the organization. This article outlines the 10 most common hiring mistakes made by man- agers and how to avoid them. Overview MOTIVATING EMPLOYEES 15. Developing a New Kind of Motivation, Don Osgood, Supervisory Management, August 1992. There is more to motivation than the ideas of Abraham Maslow and Frederick Herzberg. This article briefly outlines four other types of motivation that are essentially external to the individual. 16. Why Participative Management Won't Work Here, Donna Brown, Management Revie, June 1992. It is not easy to implement participatory management, and it may be particularly difficult during a time of economic recession. This article explores some of the pitfalls, problems, and opportunities in implementing employee involvement programs. FACILITATING COMMUNICATION How an organization communicates bad news often has a direct impact on how the news is received by the employees. This Bad News, Edward 0. Welles, Inc., April 1991. article recommends telling it to employees and telling it straight. The Rhetorical Visions of Managers, 18. Innovation and Organizational Communication in Corporate America: Facilitators, and Employees on Quality Circles, Bassey A. Eyo, The Bulletin of the Association for Business Communication, March 1992. Quality circles have been a rapidly accepted technique that is being used by American industry. This article explores how communication in quality circles works and how the people involved in both successful and not-so-successful quality circles feel about them. 19. The Hard Work of Being a Soft Manager, Willam u LEADING AND DIRECTING Peace, Harvard Business Revie, November/December sometimes very difficult for that manager to Listen lo those same It is easy for a manager to tell other people what to do, but t people. This is an article from a manager who actually listens to his employees. Testament 20. Have Dream, Martin Luther King, J., from Dr. King's address before the Lincoln Memorial, delivered on August 28, 1963, is perhaps the best example of a leader communicating his "dream" in the twentieth century. of Hope, HarperCollins, 1986. Overview 21. Disney Training Works Magic, Michelle Neely Martinez, HR Magazine, May 1992. TRAINING EMPLOYEES One of today's most successful organizations is Walt Disney Productions. Few companies are as well known for their training and the positive and friendly attitude of their employees. This article gives a hint on how they do it. 22. Training Budgets: Recession Takes a Bite, Jack Gordon, Training, October 1991. The economy has not been doing well during the past several years and that has been reflected in the amount of money spent on training. But unlike many prior years, training was not the first thing cut in the budget. CAREER AND STAFF DEVELOPMENT 23. The Workers of the Future, Nancy J. Perry, Fortune, Spring/Summer 1991. As this article points out, the workers of the future are today's Workers. Seventy-five percent of the workers in the year 2000 are already on the job. This means that while workers entering the work force need to be trained, there are many who need to be retrained, again, if the organization is going to have an effective and efficient work force. Making It to the Top, Liz Roman Gallese, Across the Board April 1991. 24. Why Women Aren't The author focuses on the stories of four female executives. One of them is now the head of her organization, but the other three are not--and will not be. The reasons for this have more to do with perception and "hunger" than with ability. APPRAINING AND IMPROVING PER VORMANCE Preference appraisals are not something that managers enjoy doing This article offers some help in how to do them effectivity and with a little less pain. 26. Effective Performance Appraisals (Really), Debbie Pennock, Supervision, August 1992. Employee appraisal is an important, but often slighted, function of management. Improper and ill-conceived appraisal systems can lead to lawsuits that can be 9xpensive, The author emphasizes the need to plan to evaluate objectively, train evaluators, and share the results with employees. 26. Employee Appralsals, Discrimination Cases, and Objective Evidence, Bill Shaw, Business Horizons, September October 1990. 150 Overview MANAGING EMPLOYEE COMPENSATION Beyond Total Compensation: The Total-Cost Perspective, Jack Dolmat-Connell and Ken Cardinal, Compensation and Benefits Review, January/February 1992. what the total cost of compensation is for their employees. This In today's competitive marketplace, companies need to know article looks at some of the methods currently in use, and it discusses the advantages of the total cost approach. 28. Models for Skill-based Pay Plans, Richard L. Bunning, HR Magazine, February 1992. Organizations are constantly looking for better, fairer, and more equitable ways to compensate employees. This article is about skill-based pay plans and how they can be applied. INCENTIVE COMPENSATION 29. Compensation as a Strategic Tool, Kathleen A. McNaly, HR Magazine, July 1992. The best compensation program is one that supports and McNally's article looks at how a firm can strategically analyze its assists in the achievement of the organization's goals. Kathleen compensation program in a competitive environment. Sharing Gains: A Whirlpool Factory Raises Productivity and Pay of Workers, Rick Wartzman, The Wall Street Journal, May 4, 1992. Will workers respond to incentives to work harder, smarter, and better in a traditionally hostile union environment? The Whirlp0ol Corporation says yes, and here is how they did it. EXECUTIVE PAY 31. Who Should Set CEO Pay? The Press? Congress? Shareholders? Andrew R. Brownstein and Morris J. Panner, Harvard Business Review, May/June 1992. There has been a great deal of controversy over execute compensation and many proposals recently to curtail and/or Control it. This article addresses and discusses these issues an how the controversy could be addressed by corporations. 32. Can We Put the Brakes on CEO Pay? Donna Brown, 176 Management Review, May 1992. Are top executives paid too much? Many people seem to think S0. Here are some suggestions on what could be done to curtail excessive top executive compensation. EMPLOYEE BENEATS 33. The Health Care Crisis: A Prescription for Reform, 1?% Business Week, October 7, 1991. Health care is one of the most pressing problems facing American society. Business Week has some ideas for reform that just might be Economically and politically possible. SAFETY AND HEALTH 34. Alcohol and Drugs in the Workplace: Major Problem or Myth? Bruce A. Campbell and Robert J. Goodell, Business Quarterly Autumn 1990. Exactly how widespread is the alcohol and drug problem in the Workplace? This article reports the results of a study of the trucking industry in British Columbia, and there is a problem. 35. Corporate Sanity: A Strategy for Stress, Robert J. Sonenclar, TWA Ambassador, July 1990. Organizations are starting to realize that health is not only physical but also mental. This article outlines one strategy for dealing with stress--0ne of the most common mental health problems. Overview A. DYNAMICS OF LABOR RELATIONS, COLLECTIVE BAR- GAINING, AND CONTRACT ADMINISTRATION 36. Future Unions, Joseph D. Reid, Jr, Industrial Relations, Winter 1992. Do unions have a future? The answer is yes, but that future may be very different from the past or present, as this article demonstrates. 37. The illusion of Cooperation, Michael A. Verespej, Industry Week, August 19, 1991. During the 19808 there was a groat deal of talk about management/labor cooperation. Unfortunately, it 8eems that much of it was talk, and much of the c0operatlon so heralded has turned out to be an allusion. DISCIPLINARY ACTION 38. Surveillance: Tool or Trap? Jennifer J. Laabs, Personnel Journal, June 1992. With all of the electronic devices that are available in today's marketplace, it is far easier to monitor employees with or without their knowledge. Is it right for firms to do this, or is this the start of life as described in George Orwell's classic book 1984? This article offers a discussion on this debate. 39, Can Companies Trust Their Employees? Robert Levering, Business and Society Review, Spring 1992. Trust is the basis of all long-term relationships. If the workers do not trust management, then management will have a hard time communicating with and disciplining employees. 40. Meeting the Global Challenge: A Measurement and Reward Program for the Future, Jude T. Rich, Compensation and Benefits Review, July/August 1992. Overview How are American firms going to respond to the changing global environment? How are they going to reward top performance in the future? This article expresses some ideas on this topic. 41. Global HR, Ellen Brandt, Personnel Journal, March 1991. Modern organizations are no longer "international" or "multinational," but "transnational" organizations for which global perspectives and global concerns outweigh national considerations. Human resources is, by definition, a part of it. This article explores how some firms are dealing with global human resource issues. 42. Global Study Reveals New Roles and Responsibilities, HR Focus, May 1992. Starting in the next century, human resources is going to have to take on an even more global perspective. This international study report is an indicator of what human resources professionals are going to have to do in the near future. 43. Global Work Force 2000: The New As organizations become global in their orientation, so will the work force. Not only will organizations move into other countries, but the skilled citizens of various countries will also be able to move. As this article demonstrates, it will no longer be a national Work force-it will be a global work force. World Labor Market. William B. Johnston, Harvard Business Revie, March/April 1991. Article Review Form Index Article Rating For

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THE MARKETING ENVIRONMENT What Is Marketing ? The Marketing Environment UNDERSTANDING AND SELECTING TARGET MARKETS Marketing Research The Consumer Market and Buying Behavior Organizational Markets and Buying Behavior Market Segmentation Targeted Marketing THE PRODUCT Services Marketing The Product Offering DISTRIBUTION Product Development and Management Marketing Channels Retailing Wholesaling and Logistics PROMOTION The Promotion Effort PRICE Advertising Direct Marketing, Sales Promotion, and Public Relations Personal Selling Pricing Procedures Price Administration

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Part I Accounting and Systems Concepts Chapter1 A Model for Pro cessing Accounting Information Introduction Organizations Events Affecting an Organization Human and Computer Resources Accounting Methods and Objectives Scope of the System and Nature of the Events The Accounting Process Technology and Accounting Information Systems Why Study Accounting Information Systems? Key Terms Questions Exercises and Case Chapter 2 Responsibility Accounting Systems Introduction Information Flows Top-Down Information Flow Organization Structure Policy Statements Performance Goals Bottom-Up Information Flow Responsibility Centers Cost Profit and Inves tment Centers Performance Reports Data Accumulation Responsibility Codes Account Codes Budget Codes Key Terms Appendix: Coding Structures Financial/ Reporting and Responsibility Accounting Questions Exercises and Cases Chapter 3 Systems Concepts and Accounting Systems Theory Characteristics of Systems Types of Systems Accounting Information Systems Accounting as a System Accounting as a Subsystem Decision-Making Activities Decision Problems and the Activity Level A Spectrum of Management Information Needs The Systems Approach Define the Objective Explore Alternative Solutions Introduction Take a Broad Viewpoint Use a Project Team Chapter 4 Systems Tools Exercises and Cases Part II Flowcharting Standard Flowchart Symbols System Flowcharts Program Flowcharts Document Flowcharts Other Systems Documentation Data Flow Diagrams System Charts Structure Charts Decision Tables Project Management Tools An Example Project Gantt Charts Network Diagrams Interviews Appendix: Control Flowchart Exercises and Cases Developing Accounting Systems Chapter 5 System Development Processes The Objective of System Development The Qualities of a Successful System Gaining User Acceptance Relevance for the Accountant The System Development Life Cycle Components of the SDLC Formal System Development Methodologies Requirements for Successful Prototyping An Approach to Prototyping Auditor Involvement in System Design The Audit Trail Exercises and Cases Chapter 6 Systems Analysis Introduction Systems Analysis The Preliminary Survey The Systems Study Proposal The System Study Team Scope of the Preliminary Survey Using System Tools Benefits of the Preliminary Survey The Feasibility Study Objectives of the System Scope of the System Defining System Scope -An Example Determining Feasibility Determining Economic Feasibility Report to Management Outcomes of Systems Analysis Key Terms Exercises and Case Chapter 7 System Design Importance of System Design Preliminary System Design Statement of Scope System Requirements Resource Requirements Report to Management Detailed Specification Activities in Detailed Specification Requirements Definition Equipment Selection Software Specification Report to Management Auditor Involvement in System Design Specifications Review Audit Modules Key Terms Exercises and Cases Chapter 8 System Implementation and Operation Introduction System Implementation Equipment Installation Programming Conversion Auditor Involvement in Implementation System Operations Post-Implementation Review System Maintenance Accounting for Systems Costs Technology of Accoun ting Systems Chapter 9 Computer Ha rdware and Software Components of a Computer System Computer Hardware Computer Software Computer System Configurations Computer Networks Electronic Data Interchange Benefits of EDI How EDI Works Difficulties Key Terms Exercises and Cases Chapter 10 Data Storage and Processing Methods Data Representation Binary Encoding Data Hierarchy Approaches to Data Organization Traditional Data File Organization Data Base Management Organization Approaches to Data Processing Manual Systems Batch Sequential Processing Systems Batch Systems with On-Line Inquiry On-Line Real-Time Systems Key Terms Exercises and Cases Chapter 11 File Processing Methods Types of Files Classifying Files by Technology Classifying Files by Content File Operations File Update File Maintenance File Organization Methods Sequential Files Direct Access Files Indexed Sequential Files Organization Method and the Physical Device Exercises and Cases Chapter 12 Data Base Management Systems Implementing a DBMS Defining the Data Base Types of Relationships Maintaining Relationships in a Data Base Structural Models for Data Tree Structures Network Structures Relational Structures Exercises and Cases Chapter 13 Internal Control Structure Internal Controls Threats to the Accuracy of Accounting Data Reasonable Assurance Limitations of Internal Control Components of an Internal Control Structure The Control Environment The Accounting System Control Procedures Appendix: The Foreign Corrupt Practices Act Views of System Controls Categorizing Controls by Objective Categorizing Controls by Scope General Controls Organization of the MIS Activity Procedures for System and Program Changes Hardware Controls Access Controls Other Data and Procedural Controls Applications Controls Input Controls Processing Controls Output Controls Exercises and Cases Chap ter 15 Data Security and Integrity Security in Computer-Based Systems Sources of Security Risk Fraud Detection Effects of Advanced Technologies on Security and Integrity Security and Integrity with DBMS Security and Integrity in On-Line Real-Time Data Encryption Security and Integrity in Computer-to-Computer Networks Evaluating Security and Integrity Auditors Responsibilities System Reviews Tests of Controls Generalized Audit Software Exercises and Cases Chapter 16 Cost-Benefit Analysis of Internal Accounting The Concept of Reasonable Assurance Using Cost-Benefit Analysis Estimating Benefits Probabilistic Estimates Incremental Costs and Benefits Steps in Cost-Benefit Analysis Examples of Cost-Benefit Analysis Costs and Benefits of Manual Control Procedures Cost and Benefits of Computerized Control Procedures A Comprehensive Application Exercises and Case Processing Accounting Transactions Chapter 17 Accounting Transaction Cycles The Cycle of Business Activities Economic Events and Accounting Transactions Transaction Cycles Cycles and Applications Advantages of Using Transaction Cycles Exercises and Case Chapter 18 Revenue Cycle Applications Documents, Records, and Reports Revenue Cycle Transactions and Documents Revenue Cycle Reports Revenue Cycle Accounting Records Transaction Processing Manual Processes Compute rize d Processes Key Terms Appendix: Control Flowcharts for Revenue Cycle Exercises and Cases Chapter 19 Expenditure Cycle Applications Documents, Reports, and Records Expenditure Cycle Transactions and Documents Expenditure Cycle Reports Expenditure Cycle Accounting Records Transaction Processing Manual Processes Computerized Processes Appendix: Control Flowcharts for Expenditure Cycle Exercises and Cases Chapter 20 Conversion Cycle Applications Inventory Systems Inventory System Transactions and Documents Inventory System Reports Inventory System Records Inventory System Transaction Processing Cost Accounting Systems Cost Accounting Transactions and Documents Cost Accounting System Reports Cost Accounting System Records Cost Accounting Transaction Processing Payroll Systems Payroll Transactions and Documents Payroll Reports Payroll System Records Payroll Transaction Processing Nonaccounting Applications Production Scheduling Systems MRP Systems JIT Systems Appendix: Control Flowcharts for the Conversion Cycle Exercises and Cases Chapter 21 Financial Cycle Applications Introduction Debt and Equity Capital Capital Transactions Accounting Records for Debt and Equity Capital Controls for Debt and Equity Transactions Property Systems Property System Transactions and Documents Property System Reports Property System Records Property Transaction Processing The Journal Entry and Financial Reporting Systems Journal Entry and Financial Reporting Journal Entry and Financial Reports Journal Entry and Financial Reporting Records Journal Entry and Financial Reporting Processing Recording Depreciation Applications Controls Responsibility Accounting

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Entities and balance sheets Income measurement: the accrual basis The recording process: journals and ledgers Accounting adjustments and financial statment preparation Accounting cycle: recording and formal presentation Sales revenue, cash and accounts receivable Valuing inventories, cost of goods sold, and gross profit Internal control and ethics Long-lived assets and depreciation Libilities and interest Statment of cash flows Stockholders' equity Intercorporate investments, including consolidations Income taxes, including interpersonal Analysis of financial statements Financial statments: conceptual framework and income measurement allocations